Conor Sen writes in Bloomberg that after 18 months of blistering growth, cooling demand in the housing market is forcing landlords to tone down their pricing…(Bloomberg)
There was evidence a couple months ago as pricing cooled that something was changing in the rental market. At the time it was hard to tell whether this was just normalization after a period of elevated growth, or if normalization would give way to weakness. Two months later it’s clear that we’re seeing real sluggishness rather than just the softness you would expect at a seasonally slower time of the year…On top of falling rents, vacancies are surging, albeit from historically low levels.